Does The Gulf Spill Mean The U.S. Is Headed For Gas Lines, Higher Food Prices And A Broken Economy?http://www.businessinsider.com/does-the-gulf-spill-mean-the-us-is-headed-for-gas-lines-higher-food-prices-and-a-broken-economy-2010-6/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Tue, 03 Mar 2015 18:21:52 -0500Michael Snyderhttp://www.businessinsider.com/c/4c7478e17f8b9ae616720100benbuyumTue, 24 Aug 2010 21:58:57 -0400http://www.businessinsider.com/c/4c7478e17f8b9ae616720100
General reply to several comments/replies above ... I have a decent working familiarity with the Bakken formation, USGS and industry work/opinion on these and other domestic reserves, and as one poster above has said, this piece can only be deemed sensationalistic. Googling will indeed turn up a great many opinions, most of them dung, a few of them pearls. One needs discernment to get at the reality of the matter.
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Yet.http://www.businessinsider.com/c/4c2249f47f8b9a61730f0000Glenn Koons, Long Beach, CaWed, 23 Jun 2010 13:52:52 -0400http://www.businessinsider.com/c/4c2249f47f8b9a61730f0000
Oh for heaven's sake. The real villain here and has been for the last 18 months, is the Obama Administration. They wanted a green,carbon, climate energy ploy to replace our huge domestic energy resources such as oil, gas, coal and the safe building of nuclear plants. It is Obama's politics and policies that is forcing higher prices and that cuts at their hypocritical agenda that says they are for the working poor. Baloney. Higher gas prices at the pump will hurt them as it will all American citizens. Until business people stop voting for and supporting socialist pacifist Dems, they will be treated as pariahs in our nation. This naif in the WH does not believe in free enterprise nor does he believe in the resources that Americans could use, exploit and distribute safely.http://www.businessinsider.com/c/4c2215887f8b9ab20f920000moranWed, 23 Jun 2010 10:09:12 -0400http://www.businessinsider.com/c/4c2215887f8b9ab20f920000
Obviously the supply that exits isn't tainted with oil.http://www.businessinsider.com/c/4c2213d57f8b9afa0e500000stockdocWed, 23 Jun 2010 10:01:56 -0400http://www.businessinsider.com/c/4c2213d57f8b9afa0e500000
General reply to several comments/replies above ... I have a decent working familiarity with the Bakken formation, USGS and industry work/opinion on these and other domestic reserves, and as one poster above has said, this piece can only be deemed sensationalistic. Googling will indeed turn up a great many opinions, most of them dung, a few of them pearls. One needs discernment to get at the reality of the matter.
No one knows with any certainty what the US or global energy future will be, but mankind and its technologies have proven to be astonishingly adaptive and innovative. I have said for years that the transition from a predominantly fossil fuels-based economy to something else is likely to be one of the greatest humanitarian tragedies of all time -- and from that there will likely emerge another great cycle of human resurgence.
In the meantime my overaching investment focus remains natural resources, as it has since 9/11. Should I live long enough, I have no desire to be one of the many who, during the transitional period envisioned, will exist huddled up in the ramshackle remains of the present civilization, with little more than tallow candles for heat and light -- I at least plan to have several hot babes who love me for my money to keep me warm. :)http://www.businessinsider.com/c/4c2210947f8b9abd0df30000LawrenceWed, 23 Jun 2010 09:48:04 -0400http://www.businessinsider.com/c/4c2210947f8b9abd0df30000
"Does The Gulf Spill Mean The U.S. Is Headed For Gas Lines, Higher Food Prices And A Broken Economy?"
OBAMA = JIMMY CARTER!http://www.businessinsider.com/c/4c220ad57f8b9af60e8e0000jdWed, 23 Jun 2010 09:23:33 -0400http://www.businessinsider.com/c/4c220ad57f8b9af60e8e0000
I'm not a peak oiler. But I am a scientist.
Peak oil isn't about running out of oil. Its about running out of cheap oil. High quality, versatile, easily accessible oil. That's what makes it cheap.
Much of the evidence we have suggest we have passed peak oil.
All this talk about massive amounts of tar sands and so forth is true. But to recover it is going to cost a lot of money. More than most can afford to pay.
Then we have the physics at the heart of our energy problems. If it takes a barrel of oil to get a barrel of oil, what's the point? If it takes two barrels of oil to get one barrel of oil, it's madness.
Much of the energy sources some of you vaguely cite are net energy losers. It takes more energy (including money) to get it out of the ground and convert it than what you can deliver (including profits) to the user on the other end.
Unless we nationalize some of the dream projects, like tar sands, no private company is going to take them on because too few people will be able to afford the end product. Not to mention the damage these difficult energy sources have on the environment (see deep water drilling in the Gulf).http://www.businessinsider.com/c/4c2207317f8b9a8b612e0000Really?Wed, 23 Jun 2010 09:08:00 -0400http://www.businessinsider.com/c/4c2207317f8b9a8b612e0000
Oil shale? Not that again. And how much of it is recoverable, let alone economically? How many tons of freshwater are we going to poison? You know, freshwater, the stuff we drink for our survival and use for all our industry and agriculture as opposed to saltwater--the stuff you overlook, maybe swim and sail in and catch the government's fish from? Bakken, ANWR, oil sands...last resorts for a desperate nation. And BTW, seafood, tourism and real estate? Not exactly nanotech, eh? What grade do you have to graduate from to get jobs like that? Do Americans make anything anymore? Our economy was heading for the crapper long before this oil spill.http://www.businessinsider.com/c/4c22068e7f8b9a5a61f70000jdWed, 23 Jun 2010 09:05:18 -0400http://www.businessinsider.com/c/4c22068e7f8b9a5a61f70000
This is absolutely another legacy of the Bush Administration. The disaster that keeps on giving.
Obama did 3 dumb things: (1) tried to reach out to Republicans (no hope there), (2) continued the stupid Republican wars and (3) didn't go six levels deep in all the govt. agencies to root out all the pimps, hustlers, idiots, gangsters, "Brownies", slackers and assorted other miscreants Bush put in these agencies.
Obama & Salazar knew about the problems at the MMS and left the people there. Then he doubles down on expanding off shore drilling and says oil platforms are safe based on reports from the same fu@ked up MMS. WTF!
Old management tactic. If you can't fire govt. people, close the whole damn agency and create a new one. Let go all the old people and hire back the good ones along with new, good people.http://www.businessinsider.com/c/4c22065f7f8b9a120aac0100Roger DWed, 23 Jun 2010 09:04:31 -0400http://www.businessinsider.com/c/4c22065f7f8b9a120aac0100
This is somewhat sensationalism in my opinion. The United States right now is awash in natural gas - so much so that a good deal of what is produced is sent right back underground into storage. It also costs about $1,200 to convert an automobile from running on gasoline to running on CNG (compressed natural gas). When the Arab oil embargo hit the USA in 1973, we did not produced anywhere near the volumes of natural gas then that we produce today. There could be a short term crunch but it wouldn't take service stations very long to install facilities to dispense CNG as a motor fuel to compete with gasoline. Same goes for the auto mechanics to learn how to install the CNG conversion kits. Expect though for there to be a legislative delay when the beauracrats can't decide how to tax CNG. Also look for people to use palm oil as a diesel substitute as they do in the UK (and, it's cheaper and against the law since it circumvents the petrol tax collections).
For those green folks, this short term crunch could be the blessing in disguise to get CNG competitive with gasoline as a motor fuel. I've seen this in New Zealand and there is also a strong CNG market in Brisbane, Australia (mainly buses).http://www.businessinsider.com/c/4c2204507f8b9ad060570000alphadirectedWed, 23 Jun 2010 08:55:44 -0400http://www.businessinsider.com/c/4c2204507f8b9ad060570000
No but it's stranded. The infrastructure (series of pipelines) isn't there yet.
I had a meeting with a staffer from Byron Dorgans office. He told some pretty amazing stories like how in his home town they couldn't even keep the police force. The massive inflow of the oil industry hired them for more money. He said they couldn't keep any service jobs to speak of because the oil industry is hiring everybody not nailed down. He also said the Senators office was shocked that no one would believe what they were saying. They were trying to tell anyone who would listen but for some reason it was falling on deaf ears which was quite perplexing to them.http://www.businessinsider.com/c/4c2201c87f8b9a375fcd0000alphadirectedWed, 23 Jun 2010 08:44:56 -0400http://www.businessinsider.com/c/4c2201c87f8b9a375fcd0000
Google Bakken. Ignore the peak oil idiots caught with their pants down yelling "Meh. America uses more oil to deep fry their Snickers bars"
It's real and it's massive.http://www.businessinsider.com/c/4c21fc337f8b9a8e08520000Nick McCannWed, 23 Jun 2010 08:21:07 -0400http://www.businessinsider.com/c/4c21fc337f8b9a8e08520000
Isn't most of that on protected land?http://www.businessinsider.com/c/4c21f9667f8b9a0a03f90000stockdocWed, 23 Jun 2010 08:09:10 -0400http://www.businessinsider.com/c/4c21f9667f8b9a0a03f90000
"Nobody is really supposed to talk about it, but the reality is that there are massive deposits of oil in Alaska, the Colorado Rockies and in the Bakken formation in Montana and the Dakotas that are larger than anything found in Saudi Arabia."
Attribution, please.http://www.businessinsider.com/c/4c21efc37f8b9a245bec0300Huntley BrinkleyWed, 23 Jun 2010 07:28:03 -0400http://www.businessinsider.com/c/4c21efc37f8b9a245bec0300
It's interesting that shrimp and oyster prices from the gulf are up from a lack of supply. At some point I would think prices would fall due to a drop in damand... who wants to eat seafood sourced from the Gulf?
Another thing to consider is that this will likely mean that a larger percentage of the US seafood business will be imports, further hurting our trade deficit.